J&K Government Releases Land Rates for 2024

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J&K Government Releases Land Rates for 2024

In a recent development, the government has officially disclosed the market rates for land and structures in urban and rural areas of Srinagar district for the year 2024.

These rates, specified in Rs. lacs per kanal, are outlined in adherence to regulatory standards, aiming for transparency in property transactions.

According to Sub-Rule 2 (C) of Rule 4 from the Jammu & Kashmir Preparation and Revision of Market Value Guidelines/Rules 2011, the released rates will be effective from January 1, 2024, to December 31, 2024.

This notification is instrumental in shaping property transactions, providing the official market values that play a pivotal role in determining stamp duty.

The prescribed formats ensure a clear presentation of these rates, emphasizing transparency in the real estate sector. This information is crucial for both buyers and sellers, as it influences the calculation of stamp duty, a significant factor in property transactions.

Stakeholders are strongly advised to acquaint themselves with these rates to ensure compliance with legal standards, facilitating seamless real estate transactions throughout the upcoming year.

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